Assetgrove responds to developer’s Brexit offer
Purchasing a new-build home off-plan can be a wise choice for first-time property investors and landlords looking to increase the size of their buy-to-let portfolio.
The overwhelming majority of new developments not only come with a 10-year warranty backed by the National House Building Council, their modern design makes them less prone to requiring costly repairs.
Developers often sell a selected number of properties off-plan at a substantial discount in order to fund the construction work.
The downside is those homes are often not ready for occupation for two or three years. However, during times when property prices are rising at a far faster rate than the returns on offer from many savings accounts, a home bought off-plan can often be worth in excess of 10% more when completed than the price agreed 24 or 36 months earlier.
And not all of the agreed purchase price has to be paid up front.
In most cases, an off-plan buyer will pay a deposit of between £2000 and £3000 to secure the right to the unit and then contribute payments in stages as the development nears completion.
Other perks sometimes thrown in by larger developers include offers to cover the stamp duty land tax payable on the property or providing a choice of kitchen, bathroom, flooring and even furniture.
But Assetgrove has never before heard of an incentive being put on offer by developer Galliard Homes.
The Essex-based company is offering to refund the deposits paid by investors on a large development in Slough if Britain votes to leave the European Union.
Galliard Homes says that the development this offer applies to is not due for completion until the second quarter of 2018 – the time the British government has to negotiate our exit from the EU if the public votes to leave on 23 June.
Assetgrove applauds Galliard Homes on its marketing initiative, which we believe is in response to fears that the UK property market could experience a period of turbulence if Britain ends its 43-year membership of the European Union.
We have said before that if the possibility of Brexit becomes reality, the number of tenants requiring good quality homes is likely to remain at the same level as today.
However, Assetgrove is taking this opportunity to launch our own Brexit-based incentive. Any investor who takes up Galliard Homes’ deposit refund offer is welcome to apply to take out Assetgrove’s five-year rent guarantee scheme.
While new-build flats are usually require less maintenance than older homes, they are no guarantee of hassle-free property management.
Whether you own a single rental property or a large portfolio of buy-to-let investments, the threat of void periods, late-night phone calls from tenants requiring anything from a new set of keys to the immediate repair of a blocked WC and difficulties obtaining rent payments on their due date is ever present.
Assetgrove’s Guaranteed Rent Scheme takes care of everything, and we provide you with a fixed guaranteed rental income for up to five years. This means you can get on enjoying your life, leaving us to look after your property as if it were our own.
To learn more about all the services that Assetgrove offers landlords, contact us today.
We currently operate within the M25, but as an expanding company we could be managing properties in Slough by the second quarter of 2018. Keep reading our blog for the latest updates from Assetgrove.